Overdue Loans Amounts Grows by 73.3 million GEL

The amount of overdue loans rose by 73.3 million GEL in December 2017 and totaled 394.5 million GEL. The ratio of overdue loans in the crediting portfolio of commercial banks made up 1.8%.

According to the National Bank of Georgia (NBG), 44.4% of overdue loans are denominated in GEL. In the reporting period, the dollarization ratio in total crediting portfolio rose by 1.3% to 56.8%.

In the banking system, average weighed interest rates on loans in November decreased by 0.5% and totaled 16.1%. Average weighed annual interest rate on foreign currency denominated loans declined by 0.1% to 8%, while the rate decreased by 0.4% on GEL-denominated loans to 20.9%.

Interest rates on GEL-denominated retail loans rose by 0.6% to 26.8%, while the rate on corporate loans declined by 0.3% to 10.9%.

As to foreign currency denominated loans, interest rate on corporate loans declined by 0.2% to annual 8%, while the rate on retail loans decreased by 0.1% to 8%.

In the reporting period, as compared to November 2016, interest rates on foreign currency denominated loans declined by 0.8% to 8%, while the rates on GEL-denominated credits rose by 2.8% to 20.9%.